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Search Results 0 to 37 of about 38 (some duplicates have been removed)
Dec 10, 2012 4:00pm PST
really a fiscal slope. a downward spiral to something much worse. the possibility of going off the cliff is just 22 days away, and it sounds pretty ominous, but it could be a walk in the part compared with what could happen if lawmakers don't take a closer look at our bigger debt picture and soon. because what they're talking about is peanuts. president obama was in michigan today pushing his fiscal cliff plan. he made the solution sound so simple. >> when you put it all together, what you need is a package that keeps taxes where they are for middle class familiefamilies, w some tough spending cuts on things we don't need, and then we ask the wealthiest americans to pay a slightly higher tax rate. >> but not so fast, mr. president. we need a little more than you're talking about. president obama says his plan reduces the deficit by $4 trillion over ten years. forget the fact it counts war savings which shouldn't count. let's go with the $4 trillion. john boehner said his plan cuts $2.2 trillion over ten years. you shouldn't be comparing those two nubs. what you should think about is $16
Dec 6, 2012 6:00am PST
of a fiscal cliff, am i missing something here? can it be such a bad thing. not really said the cbo. if congress extents current policy, the debt and deficit will increase slowing the economy and dramatically increasing interest costs. because of the deal congress and the president made last year it be result in across the board budget reductions, still there will be no decreases in social security, medicare and veteran's benefits. defense spending would take a big hit, but because of a windown in afghanistan some military leaders are asking for less than congress is willing to shell out. from 1990 to 1999 defense spending decreased by 1% a year. this weakened military is nonsense. jim we have like what 27,000 times to blow up the country with the next amount of nukes. >> and we still have massive armies in europe protecting them from a massive soviet union. >> yeah. >> korea is another issue -- we do need people there. >> stephanie: right, but he points out who is behind all of this fiscal cliff cage rattling. the rich and their friends. any changes on the low,
Dec 5, 2012 12:00am PST
deficit... who were touting a phantom menace known as the fiscal cliff. am i right about that? >> fiscal cliff is not a phantom menace. the deficit right now is. the notion that something terrible will happen if we don't deal with the deficit right away. the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial spending cuts, substantial tax increases at a time when the dme is still very weak. of course that's a recipe for sliding back into recession. we set ourselves up with the land mine and the road in front of our economy which is not based on anything real, it's just based on our politicalness. >> ifill: speaking of political mess, both sides have what they say are opening gambits on the table. president obama at least his last week which calls for $1.6 trillion in revenues. the re
FOX Business
Dec 11, 2012 1:00pm EST
as the fiscal cliff. were talking about using something is coming, you think that is good news. >> there is always the inside game and the outside game. they will talk to their base and their constituents. they have to get something by the 18th which is next tuesday so they can vote an on it. the matter what it is, something will be coming out of there. nicole: something will be better than nothing out of washington. that is the latest. he sounds pretty happy at least at the moment. today he is positive. tracy: here is a glass half full. we will take it. ashley: thanks, guys. looking at the old tea leaves of what is going to happen with speaker boehner taking the house floor with 20 days until we fall off the fiscal cliff he says it is time for president obama to get serious. really? rich edson in d.c. for all of this. >> actually somebody has to be positive, right? in d.c. we are not getting it right now. sources are looking at these meetings and saying there is essentially no move in it the last couple of weeks or so. house speaker john boehner confirms that on the house floo
FOX News
Dec 12, 2012 8:00am PST
try to pass something in the senate that would have put food stamps on the table for the fiscal cliff negotiations and failed in the senate. jenna: let me ask you that is it part of the fiscal cliff negotiations or are food stamps in their own column right now? >> reporter: he tried. it is considered an entitlement program so it has to be funded. he did try to get the specific measure passed in the senate and it failed. jenna: any response from the administration on this? >> reporter: we reached out to the white house on this and want to give them opportunity to explain or comment on the fact under president's first term food stamps are up 39%. amount of americans dependent on them. the white house directed us to the u.s. department of agriculture and oversees this program and other similar programs. here is what they told us. the increase in snap participation during the 2008 and 2010 pared of economic decline which include the recent recession was consistent during increase in previous periods of economic decline. senator sessions and others make a point. the math doesn't add up. as
Dec 7, 2012 6:00am PST
americans who can see their income taxes go up similar to the photo-op, the fiscal cliff photo-op of yesterday which was the president meeting with the middle class family. now to jobs. we have something of a surprise report. jobs turned out to be up up. the jobless rate is down and the word from the government is that sandy had no substantive effect on the data. here are the numbers. unemployment down to 7.7%. the economy added 146,000 jobs, not great but good. a third of that came from the retail sector. 53,000 jobs added. professional and business services up 43,000. leisure and hospitality up. construction, though, lost 20,000 jobs. we should note that jobs numbers were revise d downward, though, for september and october. in september it was revised from 148,000 gain to 238,000. went from 138,000 to 132,000. this month, the 7.7 is a full point lower than where we were at this time last year. so what are we supposed to make of these numbers and does the november report provide us a real sense of where this recovery is right now? let's bring in the man we like to bring in ev
Dec 11, 2012 4:30pm PST
from washington and the rhetoric over the fiscal cliff. it was the fifth straight session of gains, with the buyers out at the opening bell. the index lost some momentum around 2:30 eastern time, something traders blame on comments from senate majority leader harry reid. reid said it would be extremely difficult to get legislation averting the fiscal cliff through the senate before christmas. with today's seven-tenths of a percent gain, it brings the index back to a level last seen on election day. for the year, its up 13.5%. trading volume increased to 691 million shares; just over 1.9 billion shares on the nasdaq. the technology sector was back in the leader position, up 1.4%. health care and telecommunications were up 1%. with the tech sector up, apple was helping out as it rebounded a little from its recent sell- off, but on lighter volume. shares rose 2.1%. piper jaffray's apple analyst predicts a more steady stock rally next year, and he's stking with his $900 ice taget. it was a pair of business software firms that had the best percentage gains inside the tech sector. citrix
Dec 12, 2012 3:00pm PST
cliff argument. turns out he's not alone. let's look at something we've been seeing this week. >> stop instagramming your breakfast and tweeting your first world problems and getting on youtube so you can see gang 'nam style. ♪ gangnam style >> and start using those sprerbl social media skills to sign people up on this baby. three people a week, let it grow and don't forget, take part or get taken apart. these old coots will clean out the treasury before you get there. >> ifill: "these old coots will clean out the treasury." this is alan simpson in his best but a completely different venue. >> i talked to him today and he said "i think i could go around the world in 90 days and never had the impact that this silly little thing did." and the idea behind this, he's hooked up with "the can kicks back" helping young people try to get involved and get engaged in the fiscal cliff and making decisions. and they're using a lot of twitter and other social media to make their point. >> ifill: they tweeted "when politicians delay, young people pay, it's time to fix our debt." is this effective?
Dec 10, 2012 12:00pm EST
to think of this medium and long term risk as the fiscal avalanche. the cliff is something we are approaching now and we can see where it is. we know will hit the cliff. the avalanche is different. the only thing you know about avalanches, you know when the conditions are present. you know when the snowpack has built up to the point where it could happen. you do not know when it is going to happen, you just know it is coming. once it hits you, the avalanche becomes completely impossible to control. do you agree with this characterization about the avalanche? could you elaborate about that kind of threat? >> would you mind if i steal that from you? i will give you credit. i think it is right. i do think -- that is why what you're doing now is so important. this is a once in a generation opportunity for you to nail these things down. we're not that far apart. i really do not think we are. if you are able to put us on a credible path to fiscal sustainability, do it in a balanced way, i think we are golden. i think we will avoid that avalanche. if we do not do that, ultimately, it
Dec 12, 2012 5:00pm EST
to avoid the so-called fiscal cliff, the disastrous i ask unanimous consent sequences of our not acting, tax increases for every american taxpayer, massive cuts to defense at a time when the threats around the world are as varied and as great as we've seen in a long time. other essential programs of the federal government being affected by that. that's the last thing we need in this tepid economy with a lot of people out of work and hoping for some consensus to come together to provide a -- a long-term solution to our fiscal problem that continues to have a negative effect on our economy and more importantly, keeps people out of work. and so as that clock ticks, some are saying, well, partisanship is just too great in washington. the country's too divided. we're not going to be able to reach a consensus here in terms of how to address this problem. i disagree with that. over the last two years, and more, we have had a number of proposals brought forward on a bipartisan basis. it started with simpson-bowles, the former chief of staff to president clinton and al for a lon time, recognized
Dec 9, 2012 7:00am EST
the fiscal cliff and another recession. host: for that to happen, something has to happen this week? guest: not this week but every day that so little gets done raises the chance it will go wrong. i worry about that a lot. guest: it is a small deal, they can do something quickly. it may not require even a roll- call vote. to do the big deal, they did not have enough time to do the big deal when congress reconvenes on november 13. host: final word? guest: i think it is time to talk about the spending side. look at anyone trying to run a federal agency and they are being told the budget will be cut at 14% across the board beginning january 2. this is a ridiculous way to run a country. host: douglas holtz-eakin is the former director of the congressional budget office. stancollander thank you both for being with us. we will take a closer look of some of those special interest groups that are lobbying on behalf of what may happen with the so-called fiscal cliff. later, we will turn our attention to what is next for the u.s. and nato in relation to syria. other let's look at the guests and topi
Dec 4, 2012 8:00pm EST
. >> host: what are the obstacle of the fiscal cliff? >> guest: it's an optimist in the christmas season. we got right to the last minute before what could've been a government shutdown in april of 2011. because the last minute on the fiscal cliff. i don't think it's a good way to do business. >> host: if we were to go over, what happens? >> guest: well, you know, probably congress would be back in session pretty quickly and hopefully we would do something like i'm talking about right now. that's what we should do it early. and continue to negotiate. it's not just a question of dollars and cents. effort some people say let the race club in republicans get some data call that a tax cut. people lose faith in the institution and the political leadership. trust is a very funny commodity. you have it until you don't. when you lose the trust of the american people it's not like you get back to doing the right thing the next day. we should convince the country and the markets that can make smart decisions and to compromise and again this would be a step in the right direction of showing we can work
Dec 8, 2012 5:00am PST
out of work, and another recession. you want to know what's at the bottom of that fiscal cliff, well, there you have it. many say that what's going to happen if something isn't done soon, but guess what? alice rivlin has a plan. she's a senior fellow at the brookings institution and served as director of the white house office of management and budget, the omb, under president clinton. alice, good morning. >> good morning. >> nice to have you here on the show this morning. you're saying that it's too late for the lame duck congress to pass legislation to fix all the problems that exist, but you have created a framework for something that you call a grand bargain. what is it? >> well, it isn't just me. anybody who has looked at this problem, i was on the simpson/bowles commission and chaired another committee with senator domenici. everybody sees first that the budget is on an unsustainable course. we're on a course to accumulate more debt over the years and accumulate debt faster than the economy can grow. that's not sustainable. the grand bargain is that we have to do something abou
Dec 10, 2012 12:35am EST
is that rationality will prevail and the president and congress shall make a deal to avoid the fiscal cliff and another recession. host: for that to happen, something has to happen this week? guest: not this week but every day that so little gets done raises the chance it will go wrong. i worry about that a lot. guest: it is a small deal, they can do something quickly. it may not require even a roll-call vote. to do the big deal, they did not have enough time to do the big deal when congress reconvenes on november 13. so the idea with two weeks to go is very small. host: final word? guest: i think it is time to talk about the spending side. look at anyone trying to run a federal agency and they are being told the budget will be cut at 14% across the board beginning january 2. this is a ridiculous way to run a country. host: douglas holtz-eakin is the former director of the congressional budget office. stancollander thank you both for being with us. >> and now a lookity role of lob yist in the negotiations on the so called fiscal cliff. this is from today's washington journal and is 25 minut
Dec 5, 2012 9:00am PST
this fiscal cliff thing obviously everybody's talking about oh we've gotta cut the entitlements like medicare. you've been pointing out something for awhile that we don't have a medicare problem. we have a healthcare cost problem. explain please, healthcare geek. >> this is one of the things people should really pay attention to because the healthcare crisis in this country gets so complicate and convoluted that people tune it out and then the republicans have this incredible opportunity to swoop in and make stuff up. we don't have a medicare problem. we have a healthcare cost problem. there is no competition in the healthcare market place right now. >> stephanie: right. >> okay. and people make money in the healthcare industry when prices go up. >> right. >> corporations make money when prices go up. we're talking about medical device manufacturers, drug companies, health insurance companies, they all make money the higher the prices are. they have no incentive to work for the public good. their incent sieve t
FOX Business
Dec 11, 2012 11:00am EST
? >> i am very confident that we will at birth the fiscal cliff. the only issue is how much of this will we get done. >> i am not at all confident, actually. just hearing what adam said does not make me any more confident. it is on schedule to rock itself and very, very soon. when i hear this kind of stuff that we are trying to push granny over the cliff, that is absolute garbage and that will not take a deal. we have to reduce the deficit. you have to do that by reforming medicare and medicaid. you have to deal with all of them. when i hear my democrat colleagues say maybe we will do something with medicare card ten years away, that will not work. connell: we will wrap it up for today. thank you to both of you. >> thank you. dagen: investors suffering from a little fiscal cliff fatigue. kevin flanagan says do not look away. this could look really ugly. hey, kevin. looking at the yield on the ten year period about 1.65%. it does not look like there has been any serious market reaction . what could happen if we get to this deadline and nothing happens? >> the treasury market
FOX News
Dec 8, 2012 3:00am PST
kids and the next generations. and on the right the road on the right is the fiscal cliff. really that the is choice if we don't do something about it we are going to go anyway. do you run over the kids with the car or do you take the other road which is not a good one but better than running over your kids fiscal cliff. it's a hard choice. >> but if we don't do it, if we don't go over the fiscal cliff the democrats will never cut a dime in spending. >> why would the democrats want change? if the bush tax cuts are going to expire they are saying this is great because this means the rich are going to pay more money, we are going to have more money to spend. they are already spending a the lo. they are saying why would we want change? this is great we have more money to spend. >> nancy pelosi saying why aren't we voting on middle class tax cuts? get to the other stuff. put this up for a vote: listen to nancy pelosi. we are not here to pass the middle income tax cut why are we here to not deat a time the middle income tax cut. could it be that the republicans are holding the middle i
Dec 11, 2012 3:00am PST
's not what the american people thought the fiscal cliff was about. they thought it was about trying to have something to force us, force our congress and our president to do something about the deficit and debt situation. everything they're talking about will make it worse. >> what's the answer? will we have the deal? >> the real answer is to have comprehensive. look at this. i as a republican, i would take raising the rates on the two top brackets if, in return, we had tax reform laid out over a period of months, if we had entitlement reform. we have to control defense spending. we have to control other no non- -- other discretionary non-defense spending. i think if you have the whole package, i would hold my nose despite the fact raising those two tax brackets is bad economics, bad for jobs, will hurt the economy, i would hold my nose to get the other done. what i wouldn't do is vote for that and do nothing else. >> agree completely. what i've been saying here. steve rattner. >> i agree completely. to get a big deal we all have to hold our nose a little bit and accept things we don't want
FOX News
Dec 10, 2012 8:00am PST
in this fiscal cliff matter. jon? jon: on the democratic side it seems like they are holding firm on being sure that there is additional tax revenue in any fiscal cliff deal, right? >> jon, no question about that. they have been consistent from the very beginning. the president ran on the upper income americans paying more taxes as part of this deal. we heard more from chuck schumer on "fox news sunday". >> we democrats realize that there have to be two sides to this bargain but we're not going back to what we did in 2011. we both revenues and cuts on the table and ended up with just getting cuts because the other side wouldn't accept the revenues. >> reporter: a lot of folks on both sides feel like this is critical week. we're getting close to the end of the year. you need to give lawmakers a chance to put whatever deal it nice legislative language and sell to constituents and ultimately vote on it and hopefully send it to the president's desk. jon. jon: we'll see what happens. not a lot of time left. mike emanuel, thank you. jenna: another u.s. drone strike delivering a blow to al qaeda. we'r
Dec 11, 2012 6:00am EST
. and -- >> but for everybody to -- to do that, to say we have to go over this fiscal cliff -- >> we don't have to -- >> in order so that everybody -- >> you could have legislation ready to introduce that week. >> congressman hensarling, before you go, something like that, would -- i mean i hear this from both sides, that if we just go over the president would introduce this legislation to lower rates, republicans who have signed grover norquist's pledge would be able to go along with that and say this is what we did. i didn't vote to raise taxes, i voted to lower taxes. is that the most likely scenario? >> makes sense? >> i'm not a las vegas bookie so i'm not going to say what is most likely scenario. i don't know and my crystal ball is a little fuzzy. again all this talk of taxes is marginally irrelevant. you give the president all of the tax increases that he has requested it's roughly about 23% of his ten-year spending budget. even 1.6 trillion. at most is maybe, 22%, 23%. the additional -- >> but going over that cliff, that's real money. and by the way, that's not that revenue thing. that'
FOX News
Dec 5, 2012 7:00pm PST
to solving the fiscal cliff? we put an offer on the table. the president now has to engage. >> you might even say he'll inherit these problems. >> the president is going away for christmas. he's going to hawaii for 20 something days. where am i going to be? where are my neighbors going to be? we're not going to have a place called home. where is the help? >> what's holding us back right now is a lot of stuff that's going on in this town. >> after the election of jimmy carter, he went to washington, d.c. and came back home with some bacon. >> that's right. >> that's what you do. >> the fact is this president basically i don't think wants to work with congress. >> we do not have a taxation problem. we've got a wildly out of control spending problem. >> i'll be here, and i'll be available any moment. >> we believe that despite obvious resistance to what has to be the framework of a deal here, that progress is being made. >> all of this is smoke and mirrors. all of this deficit reduction stuff, there isn't any. there aren't any spending cuts. >> greta: while democrats and republicans fight it out
FOX News
Dec 11, 2012 3:00am PST
today. it's over. why inject the politics? why go there? with so much going on, the fiscal cliff, negotiating back and forth with the house trying to figure out how to avoid massive tax increases and spending cuts, why there? it's all politics. >> steve: one other note, the "wall street journal" says regarding right to work states, between 2000 and 2010, 5 million people moved from union states to right to work states and they have 23% higher rate of income growth per capita in right to work states. so things are thriving in the right to work states. there are 24 of them. 26 still are union states. >> gretchen: eric brought up an interesting point about why isn't the president staying in washington, because now it turns out that the fiscal cliff is actually closer than we thought. it was not coakley january 1 anymore. we've about to go off it any day now because apparently it takes a certain amount of days to actually draft any kind of legislation that they might come to an agreement on and so if you backtrack then from the end of the year and when congress is going to be going h
Dec 5, 2012 1:00pm PST
in the '90s with billi bill clinton. listen to what he says about the fiscal cliff? >> i think no deal is better than a bad deal. i think going off this cliff is less dangerous than letting things build up for a year or two. the president has staked out a position of nonseriousness, i think it's difficult for the house republicans right now to find any practical way to get his attention. >> he's saying go over the cliff rather than accept what the president wants right now. >> i don't need to remind you this is the house speaker who shut down the government and that didn't work so well for the republicans. going over the cliff is something i don't think they want to do earlier. as i keep saying, wolf. the irony to me here is that the larger issues are things they really understand how to resolve, if you look at all their proposals. they just can't get there, because they can't agree on this revenue issue. where does the revenue come from. do you raise the rates on the wealthy? if you do, how much? and that's actually in the whole realm of things a sticking point that one would presume
Dec 6, 2012 1:00pm EST
leader eric cantor says the house will be back in session december 17 to deal with the so- called fiscal cliff. he says the house will not adjourn until an agreement is reached. when the house gavels in next week, live coverage c-span. >> and think the writers institute is something that is very important within the culture. we are a culture of words, of voices. words are key to our imagination, our capacity to envision things. we are not completely tied to print on the page. but i think there is no other art form so readily accessible other than perhaps film, which we work with, too. there is something in literature that just captures the human spirit. >> join "booktv," "american history tv" as we look behind the scenes at the history of new york's capital, albany. sunday at 5:00 p.m. on american history tv on c-span 3. >> the joint economic committee today heard from the two economists on how to deal with the fiscal cliff. marchese said tax increases are necessary to reduce the deficit. senator bob casey of pennsylvania chaired the hearing. >> the committee will come to order. we want
Dec 7, 2012 9:00am EST
on the fiscal cliff, we cannot lose sight of their urgent priority of making sure we have job growth -- job creation, to say the least. many of the components you have outlined -- that both of you have -- it comprised of the broad description of the fiscal cliff whether it is the expiring tax cut provisions, the expiring tax cut extensions, and spending cuts as well. if you consider more, which of those would you consider having the biggest bang for the buck in terms of economic impact of those that we are discussing here today? >> it is a given that we will extend the current tax rates for taxpayers that make less than $250,000 on an annual basis. that is absolutely necessary. when you consider the other things that are happening -- in terms of the bang for the buck, the emergency unemployment insurance program is very effective. it is small in the grand scheme of things. cbo is estimating it would costs per calendar year about $33 million. but the economic opportunity for job growth compared to the unemployment rate would be measurably more than that. we are down to go to million people i
Dec 7, 2012 12:00pm EST
. >> lawmakers from both sides of the aisle met this week to unofficially discuss what is called the fiscal cliff. house budget committee ranking democrat chris van hollen, tennessee republican senator bob corker and other spoken of for him on the debt negotiations. the hour-long discussion was hosted by bloomberg government and the deloitte consulting company. >> good morning. i am the head of bloomberg government. thank you for joining us today and thank you to delayed for partnering with us at this event. plenary lunch limburg just over two years ago we had the aspiration of creating a one-stop shop with data, tools, news and proprietary knowledge to help government affairs, government professionals make better and faster decisions. we are a long way to succeeding in that but a big part of it is convening conversations on the big issues that face the nation today particularly at the intersection of business and government. today's discussion on the fiscal cliff clearly exceeds that far. we are honored to have such a thoughtful panel. senator mark warner, senator bob corker, congressman chris v
Dec 6, 2012 9:00am PST
and the white house signalling that we'll go off the cliff if we have to. i posted something from the l.a. times. fiscal cliff let's take the plunge in the l.a. times. he said the u.s. deficit and debt will fall social security will go on unharmed and we'll go back to tax rates that were better than the current ones. what do you think? >> i certainly don't want something that will put us into a recession. that's more republican thinking. but i think ultimately pugh has a pole saying 53% of the american people will blame republicans, to which i can only imagine republicans saying oh we're finally ahead in a poll. boner is like a slug there is a bright orange trail of cheat toe dust and bronzer leading from his office. >> stephanie: okay. here you go. >> so many people are going to part-time work and being hurt. everyone i know is already seeing cutbacks, and the economy is going to be disastrous and only going to get worse under obama. >> stephanie: by the way that was dexter von frisch? >> it was. >> stephanie: he just screams at ann coulters voice? >> it's like an eart
Search Results 0 to 37 of about 38 (some duplicates have been removed)